The subscription rights issue for Exel Composites is nearing its conclusion, with investors who still hold subscription rights having until today, June 7th, to subscribe for new shares. Any unused subscription rights will expire without value.
In the offering, investors were given the opportunity to subscribe for new shares based on the number of Exel Composites shares they already owned. Each subscription right allowed for the purchase of eight new shares at a price of EUR 0.23 per share.
Trading of subscription rights took place from May 24th to June 3rd, 2024, with subscriptions for new shares starting on May 24th and ending today, June 7th. Temporary new shares began trading on May 27th, with old and new shares currently being quoted separately on the market.
As of 1:50 p.m., the price of the old share was down 4.9 percent at EUR 0.313, while the price of the new share was down 0.7 percent at EUR 0.303. The price gap between the two has narrowed, but still remains at around three percent. This difference has ranged from 5-11 percent in recent days.
According to the schedule, the series of new and old shares will be merged into a single series on June 17th for trading.